Telephone Number Tel: (+34) 952 471 774 | UK Freephone UK Freephone: 0800 047 0597 | US Toll Free US Toll Free: +1-866 656 7152
Find Property For Sale in:

E.g. "Marbella" or "Manchester". Looking for more search options?
 
Secure Exit Strategy


Bankinter profits hit by bad Spanish property loans

Date : (News Section: Spain)

Share
Bankinter profits hit by bad Spanish property loans The profits at Bankinter plummeted by 77 per cent, the company revealed yesterday, due to provisions to cover possible losses resulting from bad real estate loans.

Reuters reported the financial institution has now set aside €275.2 million (£214.8 million) to protect itself from toxic Spanish property assets.

Chief executive at the firm Maria Dolores Dancausa said the decision to make these provisions now, rather than later in the year, will give Bankinter "a competitive advantage".

She added that the bank has no intention of requesting any public funds to bolster its position and she is confident the organisation will pass the stress tests due in a few months.

According to the news provider, finance ministers from the eurozone will approve the bailout fund for Spain's banks today (July 20th).

An official told the news agency the draft will be endorsed, while further details about the recapitalisation and restructuring of individual banks will be put together later in the year once the stress tests have been concluded in September.
 

Article by +Steve Binge on behalf of Propertyshowrooms.com News Desk ()

You may also like to read...


Got something to say? Get involved


Related Articles

  1. Is Spain on the verge of deterring foreign property buyers?
  2. Will Spanish property market recover as unemployment falls?
  3. Madrid property market has own peculiarities
  4. Property investment visa will give Spain a boost
  5. Spanish govt passes law to allow some coastal construction



Let us search for you Let Us find Property in Spain for You

Fill out a requirements form and our experts will help you find a great selection of Properties for sale in Spain.
Let us searchHelp me find property in Spain
Get a furniture removals quote

Subscribe to This Feed

RSS News
Subscribe to this RSS Feed
Country: Spain
Channel: All

More RSS FeedsGo

View News by ChannelProperty News in Spain

Media/Press SectionProperty News Search


   

News ArchivesNews Archives

View worldwide property news from as far back as 2005 in our News Archives Section.

View News ArchivesGo